1.Resulting mutual financial institution.
An investor-owned financial institution may be merged into or consolidated with a
mutual financial institution organized under the laws of this State in accordance
with the procedures and subject to the conditions and limitations set forth in this
subsection.

A. The acquiring mutual financial institution shall comply with the requirements of
section 353, subsections 1 to 4, except that the plan of merger or consolidation must
state the amount that institution will pay for the equity interests in the investor-owned
institution to be acquired and additional information the superintendent considers
appropriate. [1997, c. 398, Pt. G, §4 (AMD).]

2.Resulting investor-owned institution.
Except as the superintendent may authorize pursuant to section 354-A, a mutual financial
institution may not merge into an investor-owned institution organized under the laws
of this State without prior compliance with section 344 and all rules adopted under
that section.